3 Emerging Technologies in Advertising
Advertising has changed a great deal over the past few years, and while the variations can be attributed to any number of things—evolving taste, shifting demographics, popular trends—it’s all made possible due to the new technologies being introduced. These technologies can help advertisers reach larger audiences, spend less time on research and development, and ultimately, gain more while spending less. Here are three new emerging technologies in advertising.
Long gone are the days of buying specific ad slots individually, long negotiations, and mistargeted advertisements, programmatic advertising is here. Simply put, programmatic advertising is the automated process of buying and selling online advertisements. Companies can enter a great deal of information about their target demographic, such as age, gender, interests, etc, and platforms will use data to identify the best online audience for them, and purchase advertising slots.
The perks of programmatic advertising can be greatly beneficial to businesses, as the results typically include a better-targeted audience, ease of use and efficiency, and better monitoring and data gathering. Not only is programmatic advertising already very popular; according to eMarketer, “Mobile programmatic video ads represented 87.1% of total mobile video ad spending in 2019,” it may continue to rise even further in the future.
Artificial Intelligence (AI) has generated great interest in the tech sector lately. Although AI can be used to describe a wide range of machines or programs, a key factor is that this technology can “learn” either through human input or on its own, making it very unique. One of the reasons why AI can be so influential in the advertising industry is that it proves to be a useful tool for data management.
AI can sort through information to identify patterns and predict outcomes of advertisements. One company saw a 3000% return in value through the use of AI to aid in their paid marketing efforts. With all this data does come the factor of managing it all and keeping it secure, as data breaches can not only lead to a loss of customer trust but potential legal action. Many companies have turned to cybersecurity measures such as various firewalls, or other network security options in order to secure all the data they’ve gathered.
As artificial intelligence, augmented reality (AR) and virtual reality (VR) are similar and often used almost interchangeably, yet are incredibly different. AR merely enhances your current experience, while VR creates a whole new virtual experience of its own.
AR can be used in a plethora of ways in advertising, from showing a customer how they would look in certain clothes or makeup, to interacting with fictional characters from books or movies. Coca-Cola partnered with the World Wildlife Fund to create an augmented reality experience “aimed at the protection of polar bears and their natural habitat.” AR is already seeing great leaps in terms of investment, and the advertising revenues for AR are expected to grow by over 500%, from $328 million in 2018 to $2.6 billion in 2022.
Although advertising as a whole is shifting and changing with the times, these technologies stand out among the rest. AI can process massive amounts of data to ensure that companies are working with the best information possible. Programmatic advertising can streamline and improve the process of buying digital ad placements. Augmented reality can enhance and improve the experience of customers. These technologies can help advertisers work more efficiently and provide a better experience for potential customers.
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